St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-11-17
The COMMERCIAL RECORD.
a Bulqe In Wheat Vas the Leading
Feature on the Chicago
Board of Trade.
There Was Also a Noticeable Firm
ness in the Demand for Corn
and Provisions.
Transactions in the Financial Circles
of Wall Street.-The Gen.
eral Quotations.
special 10 the Globe.

steam on in grain and provisions TINS morn
ing. Wheat opened strong at 74ssc for De
eember and S0S4c for May. December ad-
Yanced Isc but May stuck at S0s4c. The
commission houses all had outside buying
orders, but the local trade was largely on the
short side of the market. 1t was generally
believed that the Jones-Ream party was sell
ing out and thatCudahay and his hard-hitting
followers were shooting the market. AT the
expiration of the first hour, prices were
down 14c from the top, with the scaipeTs
playing for further reaction. Cables were
strong and foreign shipping orders were
filled at lie advance over yesterdays offer.
December corn rose up TO 44SSc, = ~ 10
445sc and May to 4Sssc, an advance of SsG
Ice over yesterday. But when wheat turned
down corn followed, and a portion of the
ground was lost by 1890. The feeling Is
one of strength, however, with the cash end
of the market. the hardest, with May only Be
away. Provisions appreciated sharply in
value around the opening, pork ad-
vsncing for January delivery Sl3.l2I2
@13.32I2. and ribs and lard for
the same month from S6.6Od6.62l2 10
500. Wright & Singer were the leading
buyers. From the extreme prices quoted the
wheat market suffered slight reaction after
10 o'clock The public is unquestionably
taking an interest in local speculation once
more Commission merchants have not been
so busy for months. and there have not been
as many strangers on the floor any one day
since June. That is no reason why prices
should have advanced however. The public
is not usually successful There was very
heavy selling of long wheat to-day, SUPPOSE
bly, for account of the plungers who have
been bulling the market for the past week.
The crowd very early came to the conclusion
that the local bull leaders were unloading
and by noon they had decided among them
selves that Jones, Ream ct al. were ont of
wheat and ready TO take the other side for a
milking turn. Cudahy was a free and a
large seller all the forenoon, and the pit was
kept plugged with professional wheat all
day. The market took offerings without
once flinching and closed at l o'clock at the
top.
THE BUYING
was by strong parties, as rule. The North
west is buying because it sees the beginning
of the end of the farmers deliveries, and it
knows that the milling demand for the
wheat of that section was never more urgent.
New York is bullish on cables. Local bear
ishness may not prevail this time. Deem
Der sold up TO 1880 and May TO Sl2sc with
buyers on the bulge outnumbering sales four
TO one. The range is 5s6$lc above yester-
days closing. Receipts of corn are begin
ming to increase, 212 cars being tomorrow
estimate. As in wheat, the local bulls sold
long corn heavily, and the market readily
absorbed offerings. New York has kept
pace with Chicago, and cash corn is
yet practically on shipping basis
Trade was on large scale this afternoon
and the spirit of the market continues 10 be
decidedly bullish. Packers are not selling
heavily on the advance in provisions. IL is
partly for that reason that the market adj
Vances so easily under the influence of by
no means broad speculative inquiry for pro-
duets. A small local combination finds no
trouble bulling the market. Receipts of hogs
for tomorrow will approximate 10000, and
other points advise of an equally free incom-
ing movement. According to the o'clock
range ribs had established gain of 15@I6c,
lard 1O@15c, and pork 22025c. The market
was fairly active, but narrow. Lake engage
ments to-day: Wheat, $4,000 bu; corn. 81
600 bu; oats. $4,000 bu; t1aXseed, 9S, 600 bu
rates unchanged.
THE ROUTINE REPORT.
CHICAGO, Nov l6.-A bulge in wheat was
the leading feature on change to-day, though
the firmueSS of corn and provisions was
scarcely less noticeable. a net ADVANCE of
cent and an eighth was scored in wheat,
mainly the result of an increased foreign de-
mand. The big pit was filled the entire SEES
sion by an interested and sometimes excited
crowd. the movement was upward, and APP
pears 10 be advancing on its merits. Liver
pool cables early were very favorable, and
after there was an advance 14c TO c,and De
cember Steadied for an hour at 74s4c. and
May at SG34c. Then came other and
stronger cables. together with the report that
the boat loads taken for export were large,
and on this there was another bulge of Ssc,
which sent December TO T5Is@G5l4c, and
May TO 81ls@ Ac, an advance of from
tsc TO Ac over the outside
prices on Tuesday. The movement
of wheat on this side was not so favorable
Receipts at leading primary points were bu,
637, 600 bu. New York export clearances
were 81 900 bu, better than for many days.
Total receipts here were 167 cars, of which
144 ears were spring, and but nineteen cars
of this graded No. .. There was less talk of
injured winter wheat crops than yesterday,
but the active speculative feeling was the di-
rect result of foreign demand. The frmness
in wheat was maintained 10 the close of the
afternoon seSSion-.which was at the highest
point of the day-115sc December and 16IsC
January. One feature of the peculiar
strength of the market is found in the fact
that quite number of houses which sold fOl
reaction were forced to cover at higher fig
ure, which gave an impetus 10 the upward
movement
NOTn WIS Il EOOu SetOIu 10 WUedl, DOIl IOl
activity and for advance in prices. Local
receipts were 454 ears, about forty cars better
than expected, but still light. Cables were
very encouraging. Many operators who sold
for reaction were forced to cover at higher
price,. The country continued to buy. The
leading features, as IN wheat, were
the foreign advance and the shipping
demand. The speculative feeling was vigOr
Gus and the volume of trading was quite lib
eral. The advance was 7sc for January anC
1s8@1l2c for other futures. The final price
for January was 457sc and May 49Ssc, Pro
vision traders were not slow in following thC
lead of grain and business was Oh q large
scale with wider fluctuations on all Specu
lative articles. Receipts of hogs were large
but packers went in and bid prices up, indi
cations being that they wanted TO get prices
up TO sell their product at better prices. Out
side orders came in freely. The buying
coupled with free purchases by the loca
crowd, and assisted by the advance i'll wheat
and corn, caused prices of pork TO advance
47I2c, lard 17l2c and short ribs zoe. The
close was at the top figure. There was fail
activity in the speculative market for oats
and prices were again stronger in sympathy
with the Improvement in other lines. Amos
the entire trading was III May. which adj
Vanced l2c over Tue days cloSings. or L
3Os4c bid. This was the final price for The
day.
THE QUOTATIONS..
The leading futures ranged as follows
Wheat-No. November opening at 737Sc
CLOSING AT |oS4ci december, |o9sc. closing n
759sc; January, 75I4c, closing at 76Ise; May
S0s4c, closing at S1Ssc. COrn-No. ., No
vember opening at 44ssc, closing at sc; De
eember, 44hc, closing at 45l2c; January
1880, closing at 457sc: May, 4Sssc, closing a
Ace Oats-No. 2. November opening at 26ssc
closing at 26s4c: December opening al 26Ssc
closing at 26a4c; May. 30ssc, closing at 3024c
Mess POrk-Per Dbl, January opening a
S13 12l2, closing at Sl3.62l2; February
SI3.32I2, closing at S13.75 May, S13. G5. clos
inga S14I2I2. Lard-Per 100 lbs, Novembel
opening at $3.50, closing al 500; Deem
Der, $500, closing at S6.75; January
ing at S.. 10. Short ribs-Per 100 lbs, Jannar,
opened at S6.65, closing at ST. S2Is
February, S6.75, closing at So 92I2
Cash quotations were as follows: FlOui
held higher. business very dull. Wheat-No
q spring, 74I2@7434c: No. 5, spring, 646
64Ac; No 2 red. 74s4@75Ac. Corn-No. .